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HAMPTON ROADS HOMEOWNERSHIP FAIR TODAY :  CHESAPEAKE, NORFOLK & PORTSMOUTH DECLARE AMERIDREAM APPRECIATION WEEK
- AmeriDream Works With Local Businesses to Help People Buy Homes  -

Chesapeake, VA (July 26, 2003) – In an effort to increase homeownership in the Hampton Roads region and educate consumers about the homebuying process, AmeriDream, Inc. is hosting the Hampton Roads Homeownership Fair today at the Chesapeake Conference Center.  In recognition of AmeriDream’s dedication to increasing homeownership in Hampton Roads, the cities of Chesapeake, Norfolk and Portsmouth have issued official proclamations declaring July 24 – July 26 AmeriDream Appreciation Week.

Today’s Hampton Roads Homeownership Fair combines a fun-filled atmosphere where potential homebuyers can talk to local real estate agents, lenders, builders and others about the process of buying a home while enjoying live music, free food, children’s activities and more.  AmeriDream, the nation’s largest provider of down payment gifts, is available to share information about The AmeriDream Downpayment Gift Program, through which the organization provides funds to cover down payment or settlement costs for homebuyers who need assistance.  Gift funds provided by AmeriDream do not have to be repaid.

“In many cases, people have enough money to cover the mortgage and maintenance costs associated with owning a home, but they just don’t have the large chunk of cash needed for down payment or closing costs,” said Ann Ashburn, president and CEO of AmeriDream, Inc.  “Since we were founded four years ago, AmeriDream has given down payment gifts to more than 100,000 people, and we are looking forward to helping 100,000 more, beginning in Hampton Roads.”

The Hampton Roads Homeownership Fair is part of AmeriDream’s One Hundred Thousand Dreams program, celebrating the more than 100,000 individuals and families the organization has helped buy homes since 1999.  Through The AmeriDream Downpayment Gift Program, AmeriDream provides up to five percent of the purchase price of the home to qualified low- and moderate-income homebuyers. 

“Getting people into homes through The AmeriDream Downpayment Gift Program is only the first step,” said Ashburn.  “The strongest families and communities are formed over time, so we have developed specific initiatives designed to help people stay in their homes, as well.  Our goal with the Hampton Roads Homeownership Fair is to offer a fun and informative environment where people can learn about both buying and keeping their homes over the long term.” 

Exhibitors at the fair include:  Coldwell Banker Professional Realtors, GSH Real Estate, JES Construction, Long & Foster Realtors, National City Mortgage, Norfolk Navy Housing Department, Prosperity Mortgage, Realty Consultants, RE/MAX Central Realty, Southern Trust Mortgage Company, SouthTrust Mortgage Corp. and others.  Other activities, including live music from Lynda Smith and Live Wire, NASCAR show cars and live broadcasts from WCMS and ESPN radio, will go on throughout the day. Click here for more information on the fair.

 

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The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $1.5 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, and the Victims Rights Foundation.